1                                                                                                                                                                        1
  2 4  6    8 10 12  14     16  18  20 22  24  26 28  30  32  34  36        38  40 42  44  46 48  50 52  54  56 58  60  62 64  66                   68  70 72  74  76 78  80 82  84  86
    3                                                    NEAR FINAL 10/2/23                                                                                                  3
    4                                                    Revise 2023 interest rate on Line 16 when available.                                                                4
    5                                                                                                                                                                        5
    6                                                                                                                                             *236651*                   6
    7                                                                                                                                                                        7
       2023 M15NP, Additional Charge for Underpayment of Estimated Tax
    8  For tax-exempt organizations, cooperatives, homeowners associations and political organizations with unrelated                                                        8
    9  business income.                                                                                                                                                      9
    10                                                                                                                                                                       10
       Complete this schedule if your total tax is more than $500 or you did not pay the correct amount of estimated tax by the due dates. 
    11                                                                                                                                                                       11
    12 NAME OF CORPORATIONXXXXXXXXXXXXXXXXXXXXXXXX                                                   123456789                                      123456789                12
    13 Name of Organization                                                                          FEIN                                           Minnesota Tax ID         13
    14 Check installment method used on this schedule (must check one box):                                                                                                  14
    15   X   Standard Installment Method          X    Adjusted Seasonal Installment Method           X    Annualized Income Installment Method                              15
    16                                                                                                                                              You must round amounts   16
    17                                                                                                                                              to nearest whole dollar. 17
    18                                                                                                                                                                       18
    19   1  Enter your 2023 total tax liability (from 2023 Form M4NP, line 15 minus line 18) . . . . . . . . . . . . . . . . . . . . . . . . . .  1 123456789                19
    20     If $500 or less, do not complete this form. You owe no additional charge.                                                                                         20
    21   2  Enter your 2022 regular tax (from 2022 Form M4NP, line 15 minus line 18)  .. ...... ..... ...... ..... ......                         2 123456789                21
    22                                                                                                                                                                       22
    23   3  Required annual payment. Enter the amount from line 1 or line 2, whichever is less  .... ..... ...... ..... ..                        3 123456789                23
    24      Exceptions: If you did not file a 2022 return or filed a return for less than a full 12-month period in                                                          24
    25     the preceding tax year, or you did not have a 2022 tax liability, you must enter the amount from line 1.                                                          25
    26                                                                                                                                                                       26
    27                                                                      1st Quarter       2nd Quarter       3rd Quarter                         4th Quarter              27
    28                                                                                                                                                                       28
    29   4  Enter the due dates ... ...... ..... ....... ..... 4            123456789 123456789 123456789 123456789                                                          29
    30                                                                                                                                                                       30
    31   5  Required installments (see instructions)  ..... .... 5          123456789 123456789 123456789 123456789                                                          31
    32                                                                                                                                                                       32
    33   6  Amount paid each period (see instructions)  . . . . . . 6       123456789 123456789 123456789 123456789                                                          33
    34     Complete lines 7–13 for one column before                                                                                                                         34
    35     completing the next column. For the first column                                                                                                                  35
    36     only, enter the amount from line 6 on line 10.                                                                                                                    36
    37   7  Enter the amount from line 13 of the previous column ... ...... .....        7 123456789       123456789                                123456789                37
    38                                                                                                                                                                       38
    39   8  Add lines 6 and 7  .. ...... ...... ..... ...... ...... ..... ...... ...     8 123456789       123456789                                123456789                39
    40                                                                                                                                                                       40
    41   9  Add lines 11 and 12 of the previous column  ... ...... ..... ....... ..      9 123456789       123456789                                123456789                41
    42   10 Subtract line 9 from line 8.                                                                                                                                     42
    43     If less than zero, enter zero   .. ..... ...... ..... 10         123456789      123456789       123456789                                123456789                43
    44   11 Remaining underpayment from previous                                                                                                                             44
    45     period. If line 10 is zero, subtract line 8                                                                                                                       45
    46     from line 9. Otherwise, enter zero  .... ...... ...... ..... ..... .... 11      123456789       123456789                                123456789                46
    47   12  UNDERPAYMENT. If line 10 is less than or                                                                                                                        47
    48     equal to line 5, subtract line 10 from line 5,                                                                                                                    48
    49     enter the result and go to line 6 of the next                                                                                                                     49
    50     column. Otherwise, go to line 13  . . . . . . . . . . . . . . 12 123456789      123456789       123456789                                123456789                50
    51   13  OVERPAYMENT. If line 5 is less than line 10,                                                                                                                    51
    52     subtract line 5 from line 10 and enter the                                                                                                                        52
    53     result. Go to line 6 of the next column   . ..... ... 13         123456789      123456789       123456789                                123456789                53
    54  14  Date underpayment is paid or regular due                                                                                                                         54
    55     date of 2023 return, whichever is earlier ... ..... 14           123456789      123456789       123456789                                123456789                55
    56  15  Number of days from the due date on                                                                                                                              56
    57     line 4 to the date on line 14  .... ...... ...... .. 15          123456789      123456789       123456789                                123456789                57
    58   16 Additional charge                                                                                                                                                58
    59      (line 15 ÷ 365 × .05  line 12)×   . ..... ...... ..... 16       123456789      123456789       123456789                                123456789                59
    60                                                                                                                                                                       60
    61  17  TOTAL. Add amounts on line 16. Enter this amount on Form M4NP, line 26  ... ...... ..... ....... ..... ...  17                          123456789                61
    62     Attach this schedule to Form M4NP.                                                                                                                                62
    63                                                                             9995                                                                                      63
  2 4  6    8 10 12  14     16  18  20 22  24  26 28  30  32  34  36        38  40 42  44  46 48  50 52  54  56 58  60  62 64  66                   68  70 72  74  76 78  80 82  84  86
    65                                                                                                                                                                       65

2023 Schedule M15NP Instructions

Installment Methods
Generally, you would choose the standard installment method unless your income varied during the year. If your income varied, see 
Alternative Methods on this page.
Check the appropriate box to indicate the installment method being used.

Required Annual Payment
Line 3 
Enter the amount from line 1 or line 2, whichever is less, unless one of the following exceptions apply:
Exceptions: You must enter the amount from line 1 on line 3, if any of the following exceptions apply:
•  You did not file a 2022 return
•  You filed a return for less than a full 12-month period in the preceding tax year
•  You did not have a 2022 tax liability
[Minnesota Statute, Chapter 289A.26, subdivision 7(2)].

Figuring the Underpayment
Line 4 
The due dates of the installments are the 15th day of the third, sixth, ninth and 12th months of the taxable year. 
If you have a short taxable year, the installments are due on the 15th day of the third, sixth, ninth and final months. No installment is required 
for a short taxable year of fewer than four months.
Line 5 
Each required installment is 25% of the amount on line 3 unless you use an alternative method (see Alternative Methods). 
To determine the amount of each required installment for a short taxable year, divide the amount on line 3 by the number of installments due.
Line 6 
In the first column, enter payments made by the 15th day of the third month of the tax year. Include any overpayment from your 2022 return 
that was credited to your 2023 estimated tax account. For each of the other columns, enter payments made after the previous column’s due 
date and by that column’s due date shown on line 4.

Computing the Additional Charge
Lines 14 through 17
Payments of estimated tax are applied against any underpayments of required installments in the order that the installments were due. 
For example, if your first-quarter installment is underpaid by $100 and you deposit $200 for your second-quarter installment, $100 of your 
second-quarter payment is applied to the first quarter. The additional charge for the first quarter is computed from the first-quarter due date to 
the date the second-quarter payment is made. 
Also, the second-quarter installment will then be underpaid by $100 (assuming that the second-quarter’s required installment is $200) until 
sufficient payments are received to eliminate the underpayment.
If more than one payment has been made for a required installment, attach a separate computation for each payment.

Alternative Methods
If your income varied during the year, there are two alternative methods of determining the required installment: 
•  Adjusted Seasonal Installment Method
•  Annualized Income Installment Method
To use one or both of these methods to figure one or more required installments, complete Schedule A of federal Form 2220 and make the 
following adjustments for Minnesota tax purposes.
Lines 1a, 1b, 1c and 2. Column (a) of these lines should include income for the first two months of each tax year.
Lines 3a, 3b and 3c. Column (a) of these lines should include income for the first three months of each tax year.
Line 10. Use the tax rate of 9.8%.
Line 20. Enter your Minnesota annualization periods, using the following:
•  In Column (a), enter 2.
•  In Column (b), enter either 2 or 5.
•  In Column (c), enter either 6 or 8.
                                                                                                                      Continued
•  In Column (d), enter either 9 or 11.                                                                                                     1

2023 Schedule M15NP Instructions (Continued)

Line 21. Enter your Minnesota taxable income for the periods entered on line 20.  
Line 22:If your annualization period on line 20 is: your annualization amount for the period is:
     2 .........................................................  6
     5 .........................................................  2.4
     6 .........................................................  2
     8 .........................................................  1.5
     9 .........................................................  1.33333
11 .........................................................  1.09091
Line 24. Use the tax rate of 9.8%.
Line 35. Enter 25% (0.25) of line 3 of Schedule M15NP in each column.
Line 38. Enter the required installments from line 38 on line 5 of Schedule M15NP.
Attach the federal schedule to this schedule if an alternative method is used for any installment.

Questions?
Website:  www.revenue.state.mn.us
Email:  ubi.taxes@state.mn.us
Phone:  651-297-5199 weekdays 8 a.m. to 4:30 p.m.
This information is available in alternate formats.

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